Depositing checks by mobile device maoe usually pretty great, as using your smartphone camera saves you a trip to the bank. Nearly 6, institutions offered mobile check mboile to their retail hw, with nearly 80 million using the service, according a research report by Celent. While it has been a game-changer for the way people deposit their money, there are few things you should know before using it. Some banks offer same-day deposits, but not all. Many banks also have a set cutoff time for deposits to be available immediately. After you deposit a check with your mobile app, you might be left with a uneasy feeling. It might be tempting to destroy them, but the Pew study found that 76 percent of banks want customers to hold on to checks for some period of time after depositing. Store them somewhere secure, because should your money disappear into the ether, it can be really hard to get the issue resolved without a paper trail. You may also like.